My daughter and I were watching Disney’s Silly Symphonies on Netflix this week and it was great to reminisce about when I was her age watching these same cartoons. I was also reminded just how political these cartoons got sometimes. Chicken Little is probably one of the more powerful wartime propaganda cartoons that I’ve seen. To the unsuspecting viewer, it’s just a cartoon about a timeless story with several explanations. However, Disney’s Chicken Little is much darker and has a message that is timeless even 75 years later.
Being in the age of the internet, we have the luxury of YouTube. Over time, university lecturers have recorded their lectures and posted them on the internet. Nowadays, you can find lectures on most topics, including economics. In fact, there are enough uploads for someone to practically earn a degree if it were a matter of watching videos. You can even find older versions of textbooks online for free.
To fulfill an economics major at most schools, you need to have principles and intermediate courses in microeconomics and macroeconomics, a class in econometrics (sometimes split into two classes), international economics, and a bunch of topics courses of your choice. Here’s a list of videos to help you get started.
There’s a popular notion in Keynesian economic theory known as “The Paradox of Thrift (or Saving).” Since Keynesian economics focuses on Gross Domestic Product (GDP) — which is, frankly, a measurement of spending — saving money is paradoxical because it lowers GDP due to consumers not spending it.
The reason why economists care so much about GDP is because it’s an important indicator of where the economy is in a business cycle (boom or bust). When GDP constantly drops for a period of time, this is known as a recession. How exactly does saving money help shorten a recession?
Before Donald Trump was elected president, there was a lot of negative media coverage with a lot of pundits predicting that he would wreck our economy. About a year and a half into his presidency, it appears to have been the exact opposite. But why? Does it really make sense for the economy to have been doing so well with these crazy policies, insane tweets, and political rollercoasters of emotion? The short answer is yes.
While I may have studied economics, I cannot say for sure what the reasons are for this economic boom under Trump, which has been beyond piggybacking off of Obama’s economy for some time. I will try to explain what’s going on as I understand it.